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Share Name Share Symbol Market Type Share ISIN Share Description
Simigon Ltd. LSE:SIM London Ordinary Share IL0010991185 ORD ILS0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.35p -3.65% 9.25p 9.00p 9.50p 9.60p 9.25p 9.60p 12,892 15:56:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 3.9 -0.6 -1.6 - 5.00

SimiGon Limited Simigon kick off reseach programme with the IAF

29/04/2019 7:02am

RNS Non-Regulatory


TIDMSIM

SimiGon Limited

29 April 2019

SimiGon Ltd

("SimiGon" or the "Company")

SimiGon kicks off Augmented Reality maintenance training research with the Israeli Air Force

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is proud to announce that it has commenced a ground-breaking Augmented Reality ("AR") research programme with the Israel Air Force ("IAF") (the "Programme"). The Programme will utilise SimiGon's R&D investments in the Virtual Reality ("VR") and AR domains with respect to aircraft maintenance training by providing the invaluable ability to test and refine technologies in the demanding, up-tempo operational environment of the IAF.

SimiGon designed and developed AR and VR enhanced products and technologies will be used by the IAF in the research programme with the IAF providing logistical support and subject matter expert feedback. The Programme is expected to place SimiGon at the forefront of technology and it will enable the Company to use this technology in various domains. As the market for AR and VR enhanced training takes off, it is expected that this Programme will have positive impact on the Company's business opportunities.

SimiGon Vice President of Research and Development, Hagai Piechowicz, said: "SimiGon's training technologies will be making a great leap forward with this Programme. Our R&D team will rapidly design, develop, prototype and test our newest training technologies for the AR and VR aircraft maintenance environment in the IAF F-16 squadrons."

SimiGon President and CEO, Ami Vizer, said: "We are excited that one of our key strategic customers, the IAF, has engaged with us to learn more about the benefits of AR and VR enhanced aircraft maintenance training products and how to best implement them. Working closely with the end users in the field, our engineers will gain greater insight into how to better apply our R&D efforts and technologies to this and other domains. It is expected that this Programme will allow us to better understand how our AR and VR applications are used and applied for training in operational environments and eventually to improve our capabilities to bring a considerably more advanced, robust, proven capability to the wider market than our competitors. The Programme demonstrates the IAF's belief in SimiGon's technologies and ability to deliver viable training solutions aligned with real world needs."

Enquiries:

 
 SimiGon Ltd 
 Ami Vizer, Chief Executive Officer                +1 (407) 951 5548 
 Efi Manea, Chief Financial Officer 
 
 finnCap (NOMAD & Broker)                          +44 (0) 20 7220 0500 
 Scott Matheison / Matthew Radley (corporate 
  finance) 
 

About SimiGon

SimiGon (AIM: SIM) is a leading developer and supplier of distributed simulation solutions for defence and civilian applications. SimiGon is the creator of SIMbox, a leading PC-based platform for creating, managing and deploying simulation-based content across multiple domains. Through its off the-shelf training solutions for demanding high-skill occupations, SimiGon provides diverse organizations with faster and more cost-effective training. SimiGon's growing client base includes blue-chip training and simulation systems providers as well as air forces and commercial airlines worldwide. Founded in 1998, SimiGon maintains offices in Israel and the United States.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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April 29, 2019 02:02 ET (06:02 GMT)

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